Amalgamated Bank Sells 7,897 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Amalgamated Bank trimmed its position in New Fortress Energy Inc. (NASDAQ:NFE) by 66.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,032 shares of the company’s stock after selling 7,897 shares during the quarter. Amalgamated Bank’s holdings in New Fortress Energy were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in NFE. Vontobel Holding Ltd. purchased a new stake in shares of New Fortress Energy in the third quarter worth approximately $511,000. Pinnacle Associates Ltd. purchased a new stake in New Fortress Energy in the third quarter valued at about $890,000. M&G Plc increased its position in shares of New Fortress Energy by 52.6% in the 2nd quarter. M&G Plc now owns 2,537,712 shares of the company’s stock valued at $55,830,000 after acquiring an additional 874,210 shares during the period. SG Americas Securities LLC purchased a new stake in shares of New Fortress Energy in the 2nd quarter valued at $2,855,000. Finally, Janus Henderson Group PLC raised its position in New Fortress Energy by 187.5% during the first quarter. Janus Henderson Group PLC now owns 88,668 shares of the company’s stock valued at $2,712,000 after acquiring an additional 57,823 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on NFE shares. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays reduced their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. BTIG Research dropped their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New Fortress Energy has a consensus rating of “Hold” and a consensus target price of $19.77.

Insider Buying and Selling

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of New Fortress Energy stock in a transaction on Tuesday, October 1st. The stock was bought at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the transaction, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. The trade was a 19.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 37.10% of the stock is owned by company insiders.

New Fortress Energy Trading Up 4.0 %

NASDAQ NFE opened at $8.90 on Tuesday. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.63. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.78 and a beta of 1.53. New Fortress Energy Inc. has a 12 month low of $7.82 and a 12 month high of $40.04. The company’s fifty day moving average price is $9.44 and its two-hundred day moving average price is $16.54.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.